Think about the last brand you completely wrote off. Maybe it was a restaurant chain that lost its way, a clothing store that felt stuck in another decade, or a company that made headlines for all the wrong reasons. Now imagine someone walking in, taking the keys, and in less than a decade turning the whole thing into a $5 billion success story. That’s exactly what Fran Horowitz did with Abercrombie & Fitch, and it’s one of the best turnaround stories retail has seen in a long time.
CSG’s Trailblazers series puts a spotlight on individuals who have made their own way and empowered those around them. This Women’s History Month, we’re celebrating women who lead in retail and foodservice, and Horowitz is the perfect place to start.
By the time Horowitz took over as CEO in February 2017, Abercrombie & Fitch was in serious trouble. The brand that once defined cool for an entire generation of American teens had become a cautionary tale. A former CEO’s very public comments about only wanting a certain type of customer had generated years of backlash and legal trouble. The stores felt dated. Sales were sliding. Industry analysts were openly questioning whether the brand had a future at all.
Horowitz was no stranger to fixing things. She grew up in Armonk, a small town in Westchester County just north of New York City, and caught the retail bug early working the floor of a local women’s clothing store in high school. That part-time job eventually turned into a career spanning more than three decades across some of the most competitive fashion environments in the country. She spent 13 years in merchandising at Bloomingdale’s, held buying roles at Bergdorf Goodman and Bonwit Teller, and earned her MBA at night at Fordham’s Gabelli School of Business. She then moved into specialty retail, spending nearly eight years at Express rising to Executive Vice President of Women’s Merchandising and Design, before serving as Brand President of Ann Taylor Loft. By the time she joined Abercrombie & Fitch in 2014 to lead Hollister, she had seen enough of the industry to know exactly what a broken brand looked like and what it took to rebuild one.
She was promoted to President and Chief Merchandising Officer across all of the company’s brands just over a year after joining, and when she stepped into the CEO seat in 2017, she already knew what needed to change. The fix wasn’t a gimmick. It was a complete repositioning of how the company thought about its customers. Hollister became a brand for Gen Z teens built around self-expression. Abercrombie & Fitch was reimagined for young adults in their 20s, people who were done with college, starting careers, and looking for clothes that worked for real life. Stores got brighter and more welcoming. Sizing became inclusive. The marketing stopped projecting an image onto customers and started reflecting who they actually were. Even the button-fly jeans that shoppers had been asking to change for years finally got zippers. Sales on denim spiked.
On March 4, 2026, Abercrombie & Fitch reported its Q4 and full year results, and the numbers told the whole story. Full year net sales hit a record $5.27 billion, surpassing $5 billion for the first time in company history and marking 6% growth over the prior year. Q4 alone came in at $1.67 billion, up 5% year over year, marking the company’s thirteenth consecutive quarter of net sales growth. The company achieved its third straight year of double-digit operating margins, finishing the year at 13.3%, and repurchased $450 million worth of its own stock. Hollister was the standout, posting 15% full year net sales growth and its eleventh consecutive quarter of gains, fueled by strong teen-centric marketing and improved customer retention. Digital now accounts for 44% of total sales, and the company operates 829 stores globally across Abercrombie & Fitch, Abercrombie kids, Hollister, Gilly Hicks, and activewear line YPB.
The road ahead isn’t without challenges. Abercrombie Brands, while returning to growth in Q4, finished the full year down 1% in net sales after going up against a record 2024. The company is also navigating roughly $90 million in tariff-related costs baked into its 2026 outlook and is conducting a strategic review of its Asia-Pacific operations after concluding that returns in the region haven’t met expectations. A major ERP system rollout is also expected to weigh on the first quarter of 2026. Horowitz has guided the company through tougher spots before, and her 2026 plan calls for 3% to 5% net sales growth, continued double-digit operating margins, and ongoing investment in stores, digital, and marketing across the Americas and EMEA. She also sits on the board of Conagra Brands and was named the NRF’s 2026 Visionary, one of the most prestigious honors in all of retail.
What Horowitz has built at Abercrombie & Fitch goes well beyond a brand refresh. She took a company that had lost its way, its customers, and its reputation, and rebuilt all three from the ground up. The challenges ahead are real, but so is the track record she has built over nearly a decade at the helm. Follow CSG as we continue celebrating Women’s History Month with more Trailblazers shaping the future of retail and foodservice.
Sources
February 26, 2026
Michael J. Bender The Man Who Stepped Up When Kohl’s Needed It Most There’s something telling about thehttps://www.chainstoreguide.com.
February 19, 2026
David Rawlinson II The Man Who Wants to Bring QVC Into the Future There’s something kind of poetic about Davidhttps://www.chainstoreguide.com.
February 12, 2026
Damola Adamolekun The 36-Year-Old CEO Betting Everything on Red Lobster When most people think about taking over a bankrupthttps://www.chainstoreguide.com.
